Correlation Analysis Between Bovespa and NQPH

This module allows you to analyze existing cross correlation between Bovespa and NQPH. You can compare the effects of market volatilities on Bovespa and NQPH and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Bovespa with a short position of NQPH. See also your portfolio center. Please also check ongoing floating volatility patterns of Bovespa and NQPH.
 Time Horizon     30 Days    Login   to change

Bovespa  vs.  NQPH

 Performance (%) 

Pair Volatility

Assuming 30 trading days horizon, Bovespa is expected to under-perform the NQPH. In addition to that, Bovespa is 1.02 times more volatile than NQPH. It trades about -0.12 of its total potential returns per unit of risk. NQPH is currently generating about 0.1 per unit of volatility. If you would invest  98,516  in NQPH on July 22, 2018 and sell it today you would earn a total of  2,472  from holding NQPH or generate 2.51% return on investment over 30 days.

Pair Corralation between Bovespa and NQPH

Time Period1 Month [change]
ValuesDaily Returns


Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding Bovespa and NQPH in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NQPH and Bovespa is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Bovespa are associated (or correlated) with NQPH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NQPH has no effect on the direction of Bovespa i.e. Bovespa and NQPH go up and down completely randomly.

Comparative Volatility

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See also your portfolio center. Please also try Commodity Channel Index module to use commodity channel index to analyze current equity momentum.